Guggenheim Capital LLC Has $1.99 Million Position in Lakeland Bancorp, Inc. (LBAI)

Guggenheim Capital LLC increased its holdings in Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 84.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 103,300 shares of the financial services provider’s stock after buying an additional 47,406 shares during the quarter. Guggenheim Capital LLC’s holdings in Lakeland Bancorp were worth $1,988,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Lakeland Bancorp by 1.9% in the 4th quarter. BlackRock Inc. now owns 2,989,563 shares of the financial services provider’s stock worth $57,549,000 after purchasing an additional 57,104 shares during the period. Dimensional Fund Advisors LP raised its holdings in Lakeland Bancorp by 3.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,397,428 shares of the financial services provider’s stock worth $48,907,000 after purchasing an additional 84,832 shares during the period. Geode Capital Management LLC raised its holdings in Lakeland Bancorp by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 407,714 shares of the financial services provider’s stock worth $7,847,000 after purchasing an additional 18,730 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Lakeland Bancorp by 4.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 204,060 shares of the financial services provider’s stock worth $3,929,000 after purchasing an additional 8,336 shares during the period. Finally, First Trust Advisors LP raised its holdings in Lakeland Bancorp by 2.3% in the 4th quarter. First Trust Advisors LP now owns 123,893 shares of the financial services provider’s stock worth $2,385,000 after purchasing an additional 2,843 shares during the period. 53.89% of the stock is owned by institutional investors.

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In other Lakeland Bancorp news, Director Edward B. Deutsch sold 6,200 shares of the stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $20.85, for a total transaction of $129,270.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas J. Marino bought 5,000 shares of Lakeland Bancorp stock in a transaction on Saturday, July 28th. The shares were purchased at an average cost of $19.08 per share, with a total value of $95,400.00. The disclosure for this purchase can be found here. Insiders have sold 14,270 shares of company stock valued at $290,805 in the last three months. Insiders own 6.07% of the company’s stock.

A number of equities analysts recently weighed in on the company. Zacks Investment Research raised Lakeland Bancorp from a “hold” rating to a “strong-buy” rating and set a $23.00 price target for the company in a report on Tuesday, January 2nd. BidaskClub raised Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. FIG Partners reaffirmed a “market-perform” rating on shares of Lakeland Bancorp in a report on Monday, January 29th. ValuEngine raised Lakeland Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $24.50 target price on shares of Lakeland Bancorp in a report on Friday, December 22nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $23.25.

Shares of Lakeland Bancorp stock opened at $19.85 on Tuesday. Lakeland Bancorp, Inc. has a 12 month low of $15.06 and a 12 month high of $21.90. The company has a market cap of $939.63, a price-to-earnings ratio of 17.88 and a beta of 0.84. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.51.

Lakeland Bancorp (NASDAQ:LBAI) last announced its earnings results on Friday, January 26th. The financial services provider reported $0.29 EPS for the quarter, meeting analysts’ consensus estimates of $0.29. Lakeland Bancorp had a return on equity of 9.31% and a net margin of 24.38%. The business had revenue of $48.16 million during the quarter, compared to analysts’ expectations of $48.21 million. equities research analysts anticipate that Lakeland Bancorp, Inc. will post 1.36 EPS for the current fiscal year.

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Lakeland Bancorp Profile

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial products and services for individuals and small to medium sized businesses. It offers commercial banking services, including savings, money market, and time accounts, as well as demand deposits; lending solutions, such as short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, mortgage loans, small business administration loans, commercial real estate loans, commercial and industrial loans, and equipment financing, as well as merchant credit card services; and Internet banking, mobile banking, wire transfer, night depository, and cash management services.

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Institutional Ownership by Quarter for Lakeland Bancorp (NASDAQ:LBAI)

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